Wednesday, December 21, 2005

4 Rules for the Practical Entrepreneur

Gosh...did I really NOT blog for so long?
Anyway, here is something I found very very interesting to read. It has everything I like about non-textbook style, street-smart exec style writing. In short, Ian Landsman opines that there are four rules that practical entrepreneuers should know and obey. His headings for them are:
1. Fragmented Market
2. Business Before Consumer
3. Clear and Simple Revenue Model
4. Dog Food
Go and read it all at:
http://www.userscape.com/blog/2005/12/20/4-rules-for-the-practical-entrepreneur/

Being an entrepreneur myself (not the software kind, though- not yet at least), and a decently successful one at that, I can assure you that Ian is spot on. I agree that he could have added a few more rules, some more important than the other, the crux of his discussion is that these four rules are the most neglected ones and that they hold good for the 'practical' entrepreneur rather than their 'visionary' counterparts.

3 comments:

  1. Thanks for the pointer.

    Something against my philosophy.
    "Do not write a single line of code before doing Market Research."

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  2. Thanks for the link over! As you picked up, there's more I could have added, however I really wanted to keep it simple. Not a big list of things, but rather a few key items to think about when you're looking for ideas to start a software business.

    Alph0, market research is key for the practical entrepreneur. If you have a visionary idea then by all means start laying down code ASAP, but if you don't have a big idea but want to start a company then you have to research the market to target before getting started.

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  3. There is lot to learn in entrepreneurship concept. Thanks for your add on. Theoretical experience is totally different from practical knowledge.

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